Increased Stake in Evolution Energy Minerals
Metals One receives full allocation in Evolution Energy Minerals Rights Issue, lifting stake to 16.9%.
- Shareholding in Evolution Energy Minerals 16.9%
- Metals One investment in Rights Issue A$529,850
- Shares acquired in Rights Issue 52,985,000
- Total shares held in Evolution 90,885,000
- Total funds raised by Evolution (Rights Issue and placement) A$1.75 million
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Metals One gets full allocation in oversubscribed Rights Issue lifting shareholding in Tanzania graphite project developer to 16.9%
Further to the announcement on 5 September 2025, Metals One (AIM: MET1), a critical and precious metals exploration and development company, is pleased to announce it has received its full allocation of 52,985,000 shares in the Evolution Energy Minerals Ltd (ASX: EV1) ("Evolution") Rights Issue at A$0.01 for an investment of A$529,850.
Evolution's Rights Issue closed significantly oversubscribed and raised A$1.45 million (before costs). To accommodate a portion of the excess demand, Evolution agreed to undertake a placement to raise an additional A$300,000 on the same terms as the Rights Issue.
Upon admission of Evolution's new securities to the Australian Securities Exchange, expected to occur on 12 September 2025, Metals One will hold a total of 90,885,000 shares in Evolution, representing 16.9% of Evolution's total issued share capital.
Pursuant to the Rights Issue, Metals One has also been granted share options over 26,492,500 shares in Evolution, exercisable at A$0.02 per share, with an expiry date of 12 September 2028.
Evolution's primary project is the large, development-ready, high grade mineral resource potential Chilalo Graphite Project in Tanzania, supported by binding offtake agreements covering more than 90% of production.
Jonathan Owen, CEO of Metals One, commented:
"Chilalo represents one of the few advanced graphite projects positioned to supply ex-China markets, underpinned by strong ESG credentials, government support in Tanzania, and significant exploration upside. Through Metals One's shareholding in Evolution, our shareholders have gained access to a premium strategic mineral asset advancing towards development at a highly attractive value entry point."
| Red Basin Project | U | USA | 35% | Completed - August 2025 |
| Squaw Creek Project | U | USA | 100% | Completed - July 2025 |
| Swales Project | Au | USA | 100% | Completed - June 2025 |
| Uravan Belt Project | U, V | USA | 100% | Completed - July 2025 |
| Vanadium King Project | U, V | USA | 75% | Completed - August 2025 |
| Wedding Bell Project | U, V | USA | 75% | Completed - August 2025 |
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